INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of July 23, 2015 No. 3739-U

About insurance rates, structure of insurance rates and procedure for their application by insurers when calculating insurance premium for obligatory civil liability insurance of the owner of dangerous object for damnification as a result of accident on dangerous object

This Instruction based on article 7 of the Federal Law of July 27, 2010 No. 225-FZ "About obligatory civil liability insurance of the owner of dangerous object for damnification as a result of accident on dangerous object" (The Russian Federation Code, 2010, No. 31, Art. 4194; 2011, No. 43, Art. 5971; 2013, No. 9, Art. 874; No. 30, Art. 4084; No. 52, Art. 7010; 2014, No. 45, the Art. 6154) establishes base rates of insurance rates (appendix 1 to this Instruction), coefficients to base rates of insurance rates (appendix 2 to this Instruction), structure of insurance rates (appendix 3 to this Instruction), and also procedure for their application by insurers when calculating insurance premium for the agreement of compulsory insurance.

1. For the purpose of calculation of insurance premium according to part 1 of article 7 of the Federal Law of July 27, 2010 No. 225-FZ "About obligatory civil liability insurance of the owner of dangerous object for damnification as a result of accident on dangerous object" the insurer determines the size of insurance rate by the agreement of compulsory insurance on the following formula:

T = TB x KBM x CUBE x MVKP,

where:

T - insurance rate;

TB - base rate of insurance rate;

KBM - the coefficient to base rates of insurance rates reflecting absence or availability of insured events;

CUBE - coefficient to base rates of insurance rates depending on the level of safety of dangerous object;

MVKP - the coefficient to base rates of insurance rates considering harm which can be caused as a result of accident on dangerous object, and the greatest possible number of the victims.

2. This Instruction is subject to official publication in "the Bulletin of the Bank of Russia" and according to the solution of the Board of directors of the Bank of Russia (the minutes of the Board of directors of the Bank of Russia of July 17, 2015 No. 21) become effective from the date of entry into force of the order of the Government of the Russian Federation about recognition No. 808 which voided orders of the Government of the Russian Federation of October 1, 2011 "About approval of insurance rates on obligatory civil liability insurance of the owner of dangerous object for damnification as a result of accident on dangerous object, their structure and procedure for application by insurers when calculating insurance premium" (The Russian Federation Code, 2011, No. 41, of the Art. 5744).

Appendix 1

to the Instruction of the Bank of Russia of July 23, 2015 No. 3739-U "About insurance rates, structure of insurance rates and procedure for their application by insurers when calculating insurance premium for obligatory civil liability insurance of the owner of dangerous object for damnification as a result of accident on dangerous object"

Base rates of insurance rates

1. Base rates of insurance rates for standard types of dangerous objects.

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